Nike Inc. this week will launch a new fee-based subscription service for kids sneakers, the company announced Monday. Nike Adventure Club will feature three tiers of subscription plans and is aimed at 2-year to 10-year olds. It will effectively gives subscribers a new pair of Nike sneakers that cost about $50 or more once a month, once every two months or once every three.
Author: SGB Media
Hylete Files Registration Statement for Proposed Initial Public Offering
Hylete Inc., an online seller of fitness apparel and gear, announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed $18 million initial public offering of its Class A common stock.
Australia, Oboz Boost Kathmandu’s Fiscal Year Sales
Kathmandu Holdings Ltd. released unaudited earnings for the fiscal year ended July 2019. The company said it is expecting total sales of NZ$545 million (US$351.8 million), up 9.6 percent compared to the prior year behind strength in Australia and from its 2018 acquisition of Oboz.
Canada Goose Taps Industry Veteran To Lead Design & Merchandising Team
Canada Goose on Monday announced that Woody Blackford will join the company in fall 2019 as the EVP, design and merchandising.
J.C. Penney May Face Delisting
J.C. Penney said the New York Stock Exchange on August 6 notified the company that it is no longer in compliance with continued-listing criteria. Continued-listing requires an average closing share price of at least $1 for 30 straight trading days.
Study Finds America’s Monthly Tariff Bill Spikes To $6 Billion
New data released by Tariffs Hurt the Heartland shows American businesses and consumers paid $6 billion in tariffs in June 2019, one of the highest tariffed months in U.S. history and up 2.5 billion (74 percent) from the same month last year.
Foot Locker Unveils Washington Heights Community Power Store
Foot Locker announced the grand opening of its Washington Heights community-based Power Store. The store features a full suite of immersive capabilities for consumers to experience, including an activation space on the second floor. The 9,000 square foot store is also the first among Foot Locker stores to showcase Nike App at Retail digital technology.
The Running Event (TRE) Grows Leadership Team
The Running Event (TRE), the trade show in the running specialty industry that is produced by Diversified Communications, announced the appointment of corporate marketing and strategic development veteran Anne Gray as event director of TRE.
New Fleet Feet Location Set to Open In Atlanta Area
Fleet Feet announced the planned opening of a new store in Peachtree City, GA later this year.
Jack Wolfskin Delivers For Callaway In Q2
Callaway Golf Co.’s $476 million acquisition of Jack Wolfskin, which was announced last fall and completed in January, raised plenty of eyebrows across the business world. But this newest asset paid off for Callaway in Q2 by delivering $48 million in sales, helping the company not only post a revenue beat in the period but also raise guidance for 2019.
Vista Outdoor Charts A New Course
Vista Outdoor Inc. CEO Chris Metz on Thursday cited a host of “challenging” headwinds that led to the company’s disappointing fiscal first-quarter performance. However, he also spent a lot of time on this week’s earnings call with analysts detailing how the executive team plans to revamp and revitalize the beleaguered Anoka, MN-based company and its brands, including CamelBak.
Iconix Slashes Q2 Losses
Iconix Brand Group’s operating losses were significantly reduced in the second quarter due to aggressive cost-cutting efforts. Sales, as expected, fell sharply but Iconix officials said they’re making progress lining up new licensing partners for many of its brands.
SportChek’s Q2 Boosted By Raptors’ Win And Helly Hansen
SportChek saw same-store sales climb 3.7 percent in the second quarter, marking its fourth consecutive quarter of growth and boosted by the Toronto Raptors being crowned NBA champions. Company-owned brands vaulted 47 percent at SportChek, led by Helly Hansen’s expansion.
Aisle Talk Week Of August 5
Top headlines from the active lifestyle industry you may have missed this week, including Fox International, Europe’s largest privately owned fishing tackle company, announcing that it has agreed to be acquired by Lew’s Holdings Corp., a leader in the U.S. fishing equipment market.
Sequential Brands Sees Q2 Revenues Slide
Sequential Brands Group reported a loss in the second quarter as sales declined 20.2 percent.
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